KBC Group NV Reduces Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

KBC Group NV decreased its position in Autodesk, Inc. (NASDAQ:ADSK) by 48.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 161,077 shares of the software company’s stock after selling 149,626 shares during the period. KBC Group NV’s holdings in Autodesk were worth $44,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in shares of Autodesk during the 1st quarter worth $26,000. Olistico Wealth LLC acquired a new stake in shares of Autodesk during the second quarter worth $26,000. Pacifica Partners Inc. boosted its holdings in shares of Autodesk by 83.3% during the second quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Autodesk in the third quarter valued at $27,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Stock Performance

Shares of ADSK stock opened at $306.65 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company’s fifty day moving average price is $279.25 and its two-hundred day moving average price is $250.27. The firm has a market capitalization of $65.93 billion, a P/E ratio of 62.71, a P/E/G ratio of 3.93 and a beta of 1.47. Autodesk, Inc. has a 12 month low of $195.32 and a 12 month high of $315.73.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. Autodesk’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. KeyCorp reissued an “overweight” rating and issued a $305.00 price target on shares of Autodesk in a research note on Monday, August 26th. Oppenheimer raised their target price on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Bank of America upped their price target on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. DA Davidson assumed coverage on shares of Autodesk in a report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. Finally, Citigroup set a $325.00 price objective on Autodesk and gave the stock a “buy” rating in a report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.95.

Insider Transactions at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. This trade represents a 50.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares in the company, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,730 shares of company stock valued at $5,064,430. 0.14% of the stock is currently owned by corporate insiders.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.